Tips for trading gold

Gold continues to be in an upward trend, moving within the "ABC" pattern. The current price test also allows traders to open new long positions.

Looking at the three-wave (ABC) pattern, where wave A represents last week's bullish momentum, traders could consider long positions, with stop-loss placed at 1901. Set take-profit upon the breakdown of 1930.

This trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.

The material has been provided by InstaForex Company - www.instaforex.com

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